Muslim devotees are breaking their fast and having their meals on the last Friday of the holy fasting month of Ramadan, also known as Jumat-ul-Vida, at the Jama Masjid in the old quarters of New Delhi, India.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India.
Figures from S&P Global show that Australia’s composite purchasing managers index hit a two-year high, coming in at 53.6 against March’s 53.3.
Japan and India’s PMI numbers will be released later Tuesday.
The S&P/ASX 200 started the day up 0.32% after the PMI release.
Japan’s Nikkei 225 popped 0.8% at the open, while the broad based Topix was up 0.66%.
South Korea’s Kospi climbed 0.2%, and the small cap Kosdaq rose 0.62%.
Futures for Hong Kong’s Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI’s close of 16,511.69.
Overnight in the U.S., the S&P 500 and Nasdaq Composite both snapped six-day losing streaks, gaining 0.87% and 1.11% respectively, while the Dow Jones Industrial Average climbed 0.67%,
Chipmaker and artificial intelligence favorite Nvidia climbed 4.4%, bouncing from a nearly 14% sell-off last week, its worst since September 2022. Arm Holdings also rebounded nearly 7% on Monday.
U.S. crude prices slipped after Iran said it will not escalate the conflict with Israel. Investors had been concerned higher oil prices could contribute to inflation, leading the Federal Reserve to hold off on cutting rates.
— CNBC’s Brian Evans and Jesse Pound contributed to this report.